11 Ways To Grow Your Business Online And Eventually Sell It

11 Ways To Grow Your Business Online And Eventually Sell It

Is your online business ready and have what it takes to attract buyers? There is a lot that goes into selling. From keeping your operations running smoothly to getting potential buyers. it takes a lot of work to build your business.

However, this process is easier if your business is an attractive option for potential buyers. To find out how to be successful in doing so, I present the following 12 ways to grow your business online. 

What can I do to make my online business more attractive to potential buyers?

1. Sharpen your statistics and reports: 

Evaluate your monitoring indicators and see where you are missing data. Do you know exactly where your leads come from, the conversion process and the lifetime value of different types of customers? Accurate and easy-to-understand data makes your business much more attractive to buyers.

2. Create a Guide to Everything: 

When investors are considering buying a Business, one very important thing investors want to see is a business that can function without the founder. It is very important if you want to attract potential investors to achieve this. This can be done in large part thanks to a rigorous focus on having a detailed guide to all the procedures and policies that each individual person in the Business can to refer to.

3. Don't make the business dependent on you: 

Yes, you are clearly the key to the business and its success. But if you were to sell your business now, could they continue to carry it out? Are all the key processes written down? Do you make monthly and annual reports? If you want to walk away from your business, make sure everything is in place to make that happen.

4. Develop and Test Great Landing Pages 

Continually develop, test and optimize effective instant landing pages that increase your audience, increase sales, and increase the host's exposure in the marketplace and through social media. This should be an important part of your Marketing plan, as creating an huge online presence can be key to online success. Did you know that Canva.com, the well-known online app to create graphics, spent all their effort in creating landing pages and backlinks? Now, after years of doing so, they have millions of backlinks online and their business is worth billions. Mostly due to focusing on building landing pages and backlinks, which help them be on top of the google search results.

5. Stand out: 

One of the things that grabs buyers attention is effective marketing. So, your job is to apply for as many awards as you qualify and celebrate each with a business press release. Buyers use listings like the Inc. 500, Forbes Most Promising Companies list and the Entrepreneur Hot 100 or 500 as lists of leads for magazine acquisition. The more PR, the better if you want to attract buyers.

6. Develop and Build Your Email List: 

Nordstrom bought the flash sales site HauteLook for $270 million in 2011. Why? Because HauteLook has built a huge email list of 4 million people interested in discounted sales events. Based on the purchase price per member, which is approximately $67.50.

Action Item: Start building your email list now, and you will automatically grow your business sales price!

7. Be Focused: 

The more specialized your business, the more valuable it will be to a potential buyer. For example, if your clients are all Real-Estate agents, it will be allot easier for you to acquire a real estate related Business than if your clients were very broad. We often hear of huge profits from very large Businesses, but there are many more acquisitions that are happening because of product focus.

8. Test, never assume: 

Sometimes what seems like a good idea isn't a good idea at all. In your analytics tool, like google analytics, Use the available site stats and A/B testing tools to see what really works for your site and what doesn't. You may personally love the nice “parallax effect” your site offers, but customer bounce rate can tell a completely different story. Tweak and test one of the items at a time and find out what really works. And never "assume", in the online world its all about statistics.

9. Simplify the buying process: 

Have clear calls to action and offer refunds in case your customers are not satisfied. The more simple you make it for customers to buy, the higher the chance your customers will come back and actually buy something from you.

10. Be Helpful: 

According to a study by Google, on average, a consumer looks to 10.4 different sources for information before making a purchase. Why? Because they're looking for an answer to their problem, they want to make sure they're making the best purchase that benefits them the most. To be more attractive your business is the better. You should become the source of this information because if they don't think your content is helpful to them, they will find someone who does.

11. Focus on Your Product: 

It's important to be focused on building the best possible product, not trying to sell your business. Put your customers first to create an good experience because that's how people remember you. When the best possible Business finds you, that would possible because of the product that you sell, not because you want to sell.

So, what do you think, are these 11 ways useful for you? Do you have any suggestions or things you like to add? Please let us know in the comments.

About the author:

Hello, my name is Ron Hoekstra and I am the founder of The Liberty OnDemand. I hope you like my content, and if you want to know more about me, please read more here or subscribe to my newsletter where I will keep you up to date with new posts and other useful content.

Thank you!